Lost Ties
Lost Ties are individuals who previously engaged with Digital Financial Services (DFS) but have since left the system or become dormant due to dissatisfaction. Typically, these individuals may have struggled to see the value of DFS in their current context or faced difficulties using DFS effectively after onboarding. Some may also opt out due to negative experiences.
Instances where individuals fail to see the value of DFS, can typically be attributed to existing in ecosystems where cash transactions are predominant, making DFS less relevant. For those who exist within DFS-based ecosystems, sometimes the process of using DFS itself may be perceived as too challenging due to the system’s design and seemingly complex interactions. Such individuals may not be able to access support easily when required.
Sometimes, individuals may choose to opt out of DFS due to negative experiences, whether of their own or those of others. This is further exacerbated by issues such as misselling, misinformation, or personal incidents with fraud which can erode trust and lead to disengagement from the system. Beyond this, individuals may unintentionally pause their use of DFS due to unexplained issues or glitches with the system.
In some cases, individuals may drop off a platform but not DFS entirely, looking for options that better suit their needs.
